OverActive Media Corp.

Good day, everyone, and welcome to Overactive Media's 2025 Second Quarter Conference Call. At this time, participants are in a listen-only mode. The conference call is being recorded, and a replay of today's call will be available on the Investor Relations section of Overactive Media's website. It will remain posted there for the next 30 days. I will now hand the call over to Mr. Babik Pedram, Investor Relations for Overactive Media, for introductions and reading the Safe Harbor Statement. Please go ahead, sir.

Thank you, Giorno, and good morning, everyone. Welcome to Overactive Media's second quarter 2025 earnings conference call. A copy of the company's earnings press release is available on the investor relations section of our website at overactivemedia.com. With us on today's call are Adam Adamo, Chief Executive Officer, and Neil Duffy, Chief Commercial Officer of Americas. Today, we'll review the highlights and financial results for the second quarter 2025 and recent developments. Unless otherwise specified, all amounts mentioned on today's call are in Canadian dollars. Before we begin, I will read our cautionary note regarding forward-looking information. Certain information to be discussed during the call contains forward-looking statements within the meaning of applicable security laws, including, among others, statements concerning the company's 2025 objectives, the company's strategy to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management and are subject to several significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Also, our commentary today will include adjusted financial measures, which are non-GAAP measures. These should be considered a supplement, not a substitute for gap financial measures. Reconciliations between the two can be found in our MD&A, which is available on cdarplus.ca and our website. At this time, it is my pleasure to introduce Adam Adamu, Chief Executive Officer of Overactive Media. Adam, please go ahead.

Good morning, everyone, and thank you for joining us. Q2 was a quarter of deliveries. We broadened our commercial footprint and executed two major events, LEC on the Road in Madrid and CDL Championship Weekend in Canada. Both drove audience growth, strengthened partner demand, and supported our agencies and content businesses. The financial results reflect that momentum. Revenue grew 26% year-over-year to $8.36 million and is up 30% year-to-date to $13.36 million. Operating expenses declined 11% to $5.38 million, showing disciplined cost control. Gross profit was $4 million, with a 48% gross margin versus 62% last year, reflecting a first-half mix weighted towards events and agencies. We expect margins to improve in the second half as league revenue share, digital merchandise, and eSports World Cup flow through. Adjusted EBITDA was a loss of $1.02 million, an improvement from a $1.23 million loss last year. They closed the quarter with $5.1 million in cash and positive working capital. On execution, in Spain, LEC on the Road drew 18,000 fans over two days and 348,000 peak concurrent viewers. In Canada, CDL Champs in Kitchener brought in 11,000 fans on site and 353,000 peak viewers online, the first time the championship has been staged outside the U.S. We launched Phoenix Club, a new subscription loyalty program laying the groundwork for recurring revenue. Competitively, movie star Koi captured the LEC spring title, securing international bursts and strengthening the brand with fans worldwide. Looking forward, the second half is when our highest margin revenues are recognized. These revenues will rebalance the mix and support stronger profitability as we close the year. We're also investing in the future. Earlier this month, I traveled to Shanghai to launch Active Voices at the China Esports Conference. The global reception confirmed strong demand for a scalable solution that removes language barriers while keeping creators in control of their content and identity. This quarter showed progress on both financial and operational fronts, and we believe the second half sets us up for our strongest year yet. With that, I'll hand it over to Neil Duffy. our chief commercial officer in the Americas, to walk through the commercial pipeline and the rollout of active voices with creators, teams, and agencies. Neil?